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Wednesday, October 17, 2018


Charterers in Europe go for newer tankers

There has been a major change in the chartering policies of the largest European charterers operating in the U.K./Cont. area.  ExxonMobil, BPAmoco, Shell and TotalFinaElf have this year been chartering ships of 70-120,000 dwt that are 2-7 years younger than those chartered in 1999. We see the same tendencies for Suezmaxes, where the average age of ships chartered by the four largest European charterers operating in the U.K./Cont. area has declined by 3-9 years.

Middle East oil production - up 2.5 mbd in one year

Middle East oil production was 23.0 mbd in October, up 2.5 mbd since October last year and up 1.3 mbd since August, according to PIW.  The highest yearly Middle East oil production was in 1977 at 21.6 mbd, the lowest yearly average was in 1985 at 10.4 mbd.  World Seaborne Trade correlates strongly with Middle East oil production. Saudi Arabia’s oil production in October of 8.75 mbd was the highest since October 1981 when it was 9.685 mbd.  Saudi Arabia’s oil production was at its lowest level in August 1985 at 2.2 mbd For a complete overview with quotas, see OPEC crude oil production and quotas

PIW estimate total world oil production in October to be 76.6 mbd, compared to a projected demand by IEA of 78.4 mbd in 4Q00. Demand 1Q01 is projected to be 77.5 mbd falling to 75.6 mbd in 2Q01.

Russian crude oil exports fell in October

Russian crude oil exports fell by nearly 10% from 2.31 mbd in September to 2.09 mbd in October, the main reason being bad weather which hampered port loadings. According to PIW, Moscow has ended export restrictions on gas oil, and exports of this product usually have a seasonal increase in the fourth quarter. More information may be found under Oil Supply/Demand: Russian crude oil export on our tanker market pages.

We encourage our membership to give us their comments on the above market articles. Please send an E-mail to: or

E-commerce – chartering –INTERTANKO Tanker Event in Sydney April 24 2001

INTERTANKO is planning to discuss i.a. E-commerce at the Market Session at the  Tanker Event in  Sydney.  We would be grateful if you could complete the questionnaire and e-mail to

1. Would you consider presentations of various WWW chartering systems interesting?


2. Do you think that your company is likely to use WWW chartering systems within the next 6 months?


3. What improvements to the current systems are made by WWW chartering systems?

A/ Better information on cargo availability

B/ Better position lists

C/ Better market information in general

D/ A better post fixture system

E/ Standardized documentation

F/ More transparency

G/ Others, specify


4. What disadvantages do you think WWW chartering systems will have on your company?

A/ Several systems will cause confusion

B/ Less personal contact will result in poorer market knowledge

C/ Insufficient number of cargoes will be placed on the WWW


5. Are you aware of the following systems?








H/ Other chartering systems you know:


6. Which three of the above systems (a-h) would you prefer?

First choice:

Second choice:

Third choice:


7. Do you think e-commerce will be important for your company within the next year?


8. Other comments on WWW chartering systems


Thank you for your time!